Technological innovation has opened the doors for an increasingly collaborative global effort in the areas of communication, research, world-wide development, and production.
I think that there are many more upsides to technology integration in the globalization paradigm than downsides. I don't think that one would be overstating the case that the emergence of globalization has come in large part to technological advances. The world has become "smaller" and "larger" simultaneously thanks to technology. In this respect, regardless of pros and cons, it looks as if technology is not going anywhere fast.
One overwhelming positive element is the interconnectivity of the world. Geography is not as challenging as it used to be with the emergence of technology. News, insights, information, and communication are able to be spread instantly fast with the presence of technology. When terror strikes Norway, the sense of immediacy with which images, reporting, as well as general comprehension is conveyed because of technology. When Iranian students protest their election are subject to martial law measures, they take to Twitter and Facebook to post their comments. The recent Arab uprisings against monarchy were student led and rooted in technological communication. The interconnectivity of markets and revenue streams are all possible with technology. Verbs like "Tweet" or "Skype" now have relevance because they indicate how interconnected all aspects of the globalized setting are.
I am not sure if there is any way to "unring" the bell. Instead, I would pivot in suggesting that one potential downside is the presence of the "digital divide." The need for web interconnectivity is essential in the global setting. In this light, areas of the world that are not interconnected are left behind from global competitiveness. I think that this points out to one potential warning that has to be recognized in the technology coming out of globalization. If the goals of globalization are truly to be met, then there has to be a concerted effort to make sure that every place in the world has access to its resources. Consolidating technological power in certain areas, in urban areas at the cost of rural ones, or creating a technological elite are not the goals of a globalized world. In this sense, I think that technology access to all becomes vitally important. In seeing the digital divide, one could say that this is a disadvantage of the preponderance of technology in a globalized world.
There are many pros of worldwide technology. We are able to communicate quickly with people all over the world, see things as they actually happen (ie, earthquakes, tsunamis, floods, war, etc.), create more quickly, see projects come to fruition more quickly, special effects are more realistic--just about anything you want to do can be done faster and better than before due to advances in technology.
On the other side of the coin, technology makes us vulnerable. We have become so dependent on technology...online shopping, banking, record-keeping, school registration, data storage, etc...that we are more likely to have our identities stolen, our information stolen so that we could be financially decimated in a matter of seconds. Without proper protection (which is difficult to keep up with since hackers are constantly finding ways around firewalls, etc.).
The positives and advantages of the globalization of technology are fairly obvious; it is the disadvantages which are becoming increasingly frightening. As mentioned above, the disparity between individuals, cities, and countries whohave access to technology and those who do not is a significant problem. The lack of technology is literally going to isolate those who can least afford to be alienated by progress. The good news is that acquiring technology (and the ability to use it) can be done on a pretty fast track anymore. The second area of concern, also mentioned above, is the inherent risk of cybercrime. We know it happens on a personal level with "messy" consequences, at best; on a global scale, the potential for awful consequences is huge. We are where we are, though, and the world will continue to shrink as technolgy advances.
It truly is a mixed blessing. The ease and speed of communication made possible by technology allows for the sharing of ideas and products and services on a world-wide scale that would have been unimaginable in the past. It is now possible to become aware of and respond to business opportunities, humanitarian needs, and natural disasters, to name only a few examples, that would have gone unnoticed and unanswered by much of the population prior to the advent of technology.
However, we pay the price for that continuous contact when we must be concerned about identity theft, breaches of security, blatantly false or incomplete information creating problems out of proportion with reality, and with very individual responses to the stress of being constantly connected and unable or unwilling to take time away to decompress and relax.
The main pro is that you are no longer tethered to one location and the business in the local area, but rather you can communicate and conduct commerce with someone anywhere in the world via the internet. Of course, the con is the fact that you are untethered, thus businesses don't have to have strong ties to any community and can pack up and leave, sometimes without a moment's notice. Technology has lent a fluidity to how business is conducted in a global marketplace, but like water, it's sink or swim, and sometimes unsuspecting people get drowned in the deluge.
Clearly the benefits of the world wide web can be linked to globalisation in terms of the much greater freedom and accessibility of information. I would question, however, whether the way that the benefits of the internet are so much more focused on developed nations makes it an advantage. Being unconnected, as so many people within less developed nations are, is a definite disadvantage. Also, further negatives include the way in which the net has allowed global terrorism, crime and pornography to be spread much easier.
I think that technology has done a great deal to make the world a more equal place through globalization. Technology has made it possible for countries like India and especially China to develop in ways that were never accomplished in the days before we had so much technology. Of course, there are negative impacts as many of the previous posts have mentioned. However, that does not take away from the fact that the lives of millions of people around the world have been improved.
Technology has always been the driving factor in trade, and globalization is no exception. Proximity is no longer the central issue in determing buyers and sellers. Information, and even goods and people, can travel very quickly. This has resulted in an interconnected global economy that would not have been possible a generation ago.